"Details of companies from various banks is under process," the ministry said in a document.

So far, the MCA has not provided details of the bank accounts or the names of the banks that have received the largest collection of these deposits.

Under the Companies Act, the government has powers to strike off names of firms from the register on various grounds. The document, which listed the ministry's achievements in the last four years, also said that 68 companies are under investigation.

The Serious Fraud Investigation Office (SFIO) is probing 19 companies while the Registrars of Companies (RoC) are investigating 49 firms, it added.

The government announced the demonetisation during the evening of 8th November 2016. The exercise saw scrapping of the old Rs 500 and Rs 1,000 currency notes as legal tenders as part of the fight against the black money menace.

The government has so far maintained that the demonetisation action would help it control a shadow economy and crack down on the use of illegal and counterfeit cash to fund illegal activity and terrorism. The extended shortage of cash after sudden announcement created significant disruption throughout the economy.